Multicoin Capital, a US-based digital asset management startup launched last October, has successfully collected capital in a funding round from individual investors led by Marc Andreessen, a co-founder of venture capital firm Andreessen Horowitz, as reported by Reuters.

According to the statement made by Kyle Samani, a co-founder of Multicoin Capital, the funds raised from the investors will contribute to the startup’s further capital growth for achieving the $250 million target for its crypto fund, currently having $50 million in hand. The target fundraising amount is scheduled to be reached by the end of this June.

Multicoin is among 225 crypto funds combining assets valued at $3.5 billion to $5 billion, as shown by data from Autonomous NEXT. Multicoin participates in investments made into cryptocurrencies.

In addition to Andreessen, fundraising round included such backers as David Sacks, the first COO at PayPal Holdings Inc, and Elad Gil, co-founder of Color Genomics. As venture capital firms in many cases show wary attitude to investing in risky assets, and cryptocurrencies in particular, in view of existing rules and restrictions on making risky investments, support coming from individual investors is getting a common trend in the digital assets market.

Samani comments that despite similarities between investments made into crypto market and investments into startups, there are principal differences, as crypto assets are getting liquid in a shorter term during their life cycles as compared to traditional equity. Apart from liquidity capability, crypto assets are open source and it makes investors think in a fundamentally different way.